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PAP's Neglect/Mismanagement of Sports

zhihau

Super Moderator
SuperMod
Asset
That kind of programme is one off.

bro,
if you looked at the SSC calendar, you'd see that the entire year is peppered with many sports events. the love for sports is a very personal choice, and we couldn't possibly expect an individual to be participating in every sports event available in the sports calendar every year. we have to be aware that folks placed something else as a higher priority over sports, and more importantly, we need to acknowledge that the infrastructures are there.
me is a outdoor person, and there are so many different choices of sports for me to engage. only thing missing as far as me is concern is the lack of venues for extreme sports like Motor-cross or sky diving :p:p:p
 

zhihau

Super Moderator
SuperMod
Asset
Here we are talking about buyer not using his own money and seller not using his own shares. Also owners or shareholders not necessarily willing to take such risk.

oh yah hor... and me want my CPF back! :(:(:(
 

Fook Seng

Alfrescian (Inf)
Asset
zhihau said:
oh yah hor... and me want my CPF back! :(:(:(

Not only your CPF. If the state investments suffer heavy losses, the economy and your fixed assets are likely to go south as well.
 

TracyTan866

Alfrescian (Inf)
Asset
I think the objectives to many things were set wrong. Sometimes secondary, often conflicting, objectives were put into the idea.

Take for instance the Sports Hub. The central idea was to find a sucker to bear the risk in a very substantial investment, not to get a good stadium done properly and expediently. The investor found his mistake early enough but not before making great losses. The motor circuit in Changi is likely to repeat history.

Another example is the immigration policy. Although the pretext used was to compensate for a fall in TFR, the end result was a drastic increase in population of more than a million in only 10 years. Lucky Tan could be right - it appeared like there was a dislocation of what was required to what was implemented by some 20 odd years - what you need as numbers only in 20 years' time, you take them in now.

But look at it in another way, it could be a case of multiple objectives. Not only is arresting falling TFR an objective but micro-engineering a desired racial mix was an important objective and mind you PRC immigrants do not reproduce themselves in large numbers nowadays with their concept of one child family strongly ingrained in their heads, so they must be brought in in larger numbers than what it might have been which in turn required a large intake of Indians, giving the outcome that we all know.

Some people went to the extent to suggest that the whole exercise was to raise money from a larger economy brought about by a larger population to compensate for heavy losses in overseas investment.

It is pertinent to note an observation that Singapore has invested an amount equivalent to 70% of our GDP or some US$140 billion in European banks. The common wisdom is that these banks will suffer great, maybe incapacitating, losses due to investment in increasingly junk-rated bonds.

As recently as last month, some senior investment officer of our country's investment team proudly announced that we would be investing more into Europe to catch prices at the low in a contrarian way. They do this thing with what essentially is our pension fund? What if the downturn last a full economic cycle? Isn't the European Crisis a more structural problem than even the 2008 Crisis?

I am concerned because, to me, there is one very sick concept propagated by a well-regarded consultant that you do not need to react to any up and down because if your horizon is long enough, your investment return in USD will be around 12 % pa. But time is money. A cycle that takes 5 years to fully recover, like the Great Depression, for instance, will wipe off 85% to 90% of your money when compared with taking out the money and investing at a better time or not investing until the time is more right and the trend more clear.

If all these did not make much sense, then maybe there was no other choice. Much like a gambler who lost so much money that the only way out was to bet even heavier to try to win back the losses, high risk not a factor in the equation. For such a gambler, what is your usual suggestion for action?


thanks for the excellent analysis!
 

TracyTan866

Alfrescian (Inf)
Asset
Sports development should not come from hatching a plan how to win medals. It should be finding ways to have as many people as possible to participate in sports and enjoy it. Only when you have mass participation, then you can find winners. There is such a thing as a sports culture. Some countries have it. I doubt we have it.

Totally agree...Sports have many benefits not only winning medals..
 

Troll

Alfrescian
Loyal
The biggest waste of money is importing FT sports men and women, with the hope that they win some medals for us.

Sports isn't about winning medal. Medals won by imports does nothing towards national pride or reputation. If anything, it caused more division among us.

Sports is about giving it your best short, even though all your efforts came out short, at least you tried and held your head up high. It's about playing fair, competing fair. Medal at all cost, and in the process of alienating your own countrymen, is anything but sportsmanship.
 

TracyTan866

Alfrescian (Inf)
Asset
How do schools promote sports? As the primary aim is to win medals, students are asked what they can play and tests are carried out to determine who can fit into the school team and training is conducted for this selected group of athletes. There is no programme for mass participation in sports.

True..sports is mismanaged by the pap ...
 
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TracyTan866

Alfrescian (Inf)
Asset
Not only your CPF. If the state investments suffer heavy losses, the economy and your fixed assets are likely to go south as well.

busines cycles are getting shorter and the possibility of state investments suffering heavy losses is highly likely. the SG cant build wealth based on gambling...it is tragic to gamble with citizens' money to build wealth. a country shd create wealth by producing products and services...not gamble!
 

Hans168

Alfrescian
Loyal
Can we buy top talent to form our gahmen?
Hu Jintao is dirt cheap, so is Barack Obama or ManMohan Singh
 
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